STM reported Q3 revenues of $1,668m, down 5.4% sequentially and 8.8% yoy. As in the previous quarter, every segment suffered but MMS (+7.3% sequentially, +13.9% yoy). Three segments decreased by more than 10% yoy: Industrial (-15.1%), DPG (-18.1%) and Analog, MEMS & Sensors (-22.2%). The gross margin reached 33.5%, a sequential decrease of 130bp, reflecting the impact of unused capacity charges of about 180bp and price pressure. Opex reached $534m, a slight increase vs. the previous quart
27 Jan 2016
Restructuring of the digital business finally announced, but much work remains
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Restructuring of the digital business finally announced, but much work remains
STM reported Q3 revenues of $1,668m, down 5.4% sequentially and 8.8% yoy. As in the previous quarter, every segment suffered but MMS (+7.3% sequentially, +13.9% yoy). Three segments decreased by more than 10% yoy: Industrial (-15.1%), DPG (-18.1%) and Analog, MEMS & Sensors (-22.2%). The gross margin reached 33.5%, a sequential decrease of 130bp, reflecting the impact of unused capacity charges of about 180bp and price pressure. Opex reached $534m, a slight increase vs. the previous quart